Barclay’s Bank of London Reports on Conditions in Palestine

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with £E6,669.

It is reported that the first instalment of the new currency of silver, nickel and bronze, which is expected in the autumn to supersede the Egyptian currency now used, has arrived at Jerusalem. The Palestine £ is equivalent in value to the £ sterling and is divided decimally into 1,000 units. Barclay’s Bank (Dominion, Colonial and Overseas) have been appointed Agents to Palestine Currency Board.

The earthquake has involved the loss of numerous lives, and many people have been injured. The material damage is difficult to estimate, as investigations are not yet complete. A reconstruction programme is actually under consideration, which will probably involve loans for rebuilding. As crops were harvested and foodstuffs undamaged. distress is, to that extent, alleviated. The greatest sufferers are the owners of buildings, Barclays reports.

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